Question and Answer Regarding Waiver of HOA Documents

Question:  I am an agent representing sellers in the sale of residential real property.  The buyer claims to own a property in the same subdivision and subject to the same homeowners' association documents as the property that is being sold now.  The buyer has agreed to pay for all of the HOA documents, but subsequently has waived the requirement that those documents be provided because the buyer claims that the buyer has received everything pursuant to their ownership of the other property.  Is it acceptable to waive these documents?

Answer:  Most disclosure requirements associated with residential one to four unit properties cannot be waived.  For example, the Transfer Disclosure Statement and Natural Hazard Disclosure statements cannot be waived.  Although there is no law specifically on point, in light of similar laws and case holdings relating to other disclosures, it is risky to waive this requirement.  Therefore, I think it is in the best interest of the parties to order the HOA documents and provide them to the buyer.

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